Harbor Capital Advisors Inc. Acquires 897 Shares of Crescent Energy (NYSE:CRGY)

Harbor Capital Advisors Inc. lifted its holdings in shares of Crescent Energy (NYSE:CRGY) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,831 shares of the company’s stock after buying an additional 897 shares during the period. Harbor Capital Advisors Inc.’s holdings in Crescent Energy were worth $553,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRGY. Rhumbline Advisers raised its stake in Crescent Energy by 20.8% during the 2nd quarter. Rhumbline Advisers now owns 131,965 shares of the company’s stock valued at $1,564,000 after buying an additional 22,702 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Crescent Energy by 21.2% in the second quarter. Arizona State Retirement System now owns 26,557 shares of the company’s stock worth $315,000 after acquiring an additional 4,640 shares during the period. Acadian Asset Management LLC purchased a new stake in Crescent Energy during the second quarter valued at $298,000. Dimensional Fund Advisors LP increased its position in Crescent Energy by 85.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,656,222 shares of the company’s stock valued at $31,477,000 after acquiring an additional 1,226,027 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Crescent Energy by 225.9% in the second quarter. Renaissance Technologies LLC now owns 346,800 shares of the company’s stock valued at $4,110,000 after acquiring an additional 240,400 shares during the period. 52.11% of the stock is currently owned by institutional investors.

Crescent Energy Stock Up 1.0 %

CRGY opened at $16.57 on Wednesday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 26.73 and a beta of 2.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average is $14.44 and its 200 day moving average is $12.70. Crescent Energy has a fifty-two week low of $9.88 and a fifty-two week high of $16.67.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. The business had revenue of $744.87 million for the quarter, compared to the consensus estimate of $793.88 million. During the same period in the previous year, the business earned $0.35 earnings per share. On average, sell-side analysts forecast that Crescent Energy will post 0.98 earnings per share for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.48 annualized dividend and a yield of 2.90%. Crescent Energy’s payout ratio is 77.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Pickering Energy Partners started coverage on Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating for the company. Truist Financial boosted their target price on shares of Crescent Energy from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday. Stephens increased their price target on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Raymond James lifted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. started coverage on Crescent Energy in a research note on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Crescent Energy currently has an average rating of “Buy” and an average price target of $17.20.

Crescent Energy Company Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.